Source: Oxfam
When you’re told the economy is doing great this is what they mean. It’s a bad message to send in an election year.
"Morbidly Wealthy": The world’s five richest men have more than doubled their fortunes from $405b to $869b since 2020—at a rate of $14m/hr—while nearly five billion people have been made poorer
Submitted 11 months ago by brbposting@sh.itjust.works to workreform@lemmy.world
https://sh.itjust.works/pictrs/image/bd8f5785-2356-47cd-96dd-603327c5cceb.jpeg
Comments
willis936@lemmy.world 11 months ago
Sunforged@lemmy.ml 11 months ago
Bidenomics is working! Why aren’t you people happy?!
uriel238@lemmy.blahaj.zone 11 months ago
Bidenomic is based in Reaganomics only doesn’t hand social program budgets so quickly to the religious ministries.
Even in the 1800s railrod barons owned all the candidates in the primaries. So we can’t redistribute wealth by vote.
It does show what it did during the Great Depression. Our ownership class will gladly see us starve and freeze than give up their vast holdings. They’ll hire armies and lawyers alike to keep wealth they cannot actually utilize (except to gain more wealth) even if it drives the human species to extinction.
And the longer it takes for the public to fight back, the higher the global catastrophic risk.
This, however, isn’t to say we can choose revolution at any time. Violence remains unthinkable until the hour it is inevitable; until the hour we find our Mahsa Amini, we can only stir and wait.
snek@lemmy.world 11 months ago
Sadly this won’t make them any tastier.
Szymon@lemmy.ca 11 months ago
So what’s your breaking point? What’s society’s?
prole@sh.itjust.works 11 months ago
Americans have been conditioned for nearly a century now to be far too comfortable to do anything. The fascists have learned their lesson, and this time they are much better at keeping people from caring until it’s too late.
PhlubbaDubba@lemm.ee 11 months ago
Makes me wonder what the numbers would be if we did tax brackets for capital property.
Like with incomes there’s might be a standard deviation curve but people are considered at least diet rich in this country if they can afford to own a second home for whatever purpose.
Going up to three properties I’m pretty sure makes viewing it based on percentile pointless.
Alto@kbin.social 11 months ago
Not directly related to income tax, but I'm a bog believer in having property tax on a exponential scale. Start off quite low for your first property, a vacation home is still reasonable, but by the time you're much past that it becomes completely unreasonable to keep buying properties. Add a hefty multiplier for empty units on top of that, and you'd go a long way to fixing the issue with property hoarding.
HappycamperNZ@lemmy.world 11 months ago
I believe a person/family should be allowed up to 3
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live in
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rent
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bach.
Anything above that gets taxed in every way we can so you can and do make a profit, but its considered similar to other financial investments including risk.
Not sure how the loopholes would work if they own part with an ex, or kids, or single to relationship, but the general idea.
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cyberpunk007@lemmy.ca 11 months ago
What’s crazy is I pay around 45% income tax. And these people have their billions. How about anyone making less than 500k a year doesn’t get taxed, and those fuckers pay.
BetaBlake@lemmy.world 11 months ago
It’s time to eat these motherfuckers
DragonAce@lemmy.world 11 months ago
Lets see some names. Who are these people?
const_void@lemmy.ml 11 months ago
Elon Musk
Jeff Bezoa
Bill Gates
stewsters@lemmy.world 11 months ago
Elon Musk, Jeff Bezos, Larry Ellison, Warren Buffett, and Bernard Arnault
iAvicenna@lemmy.world 11 months ago
we call them “space billionaires”
1984@lemmy.today 11 months ago
Great. I think the rest of us were made poorer, with stock market going down a lot, inflation and high energy prices.
But who cares right.
Zevlen@lemmy.world 11 months ago
[deleted]hglman@lemmy.ml 11 months ago
The wealthy don’t provide; they take. They exploit others bc they have deep rooted addiction to wealth along with a host of comorbid conditions (narcissism, sociopathy, etc.).
Cowbee@lemmy.ml 11 months ago
Stock market grew 12%ish last year.
Xanis@lemmy.world 11 months ago
Plenty of people care about a lot of things. I believe the modern problem is we can’t seem to stop talking and stop forgetting until we’re collectively reminded about it all sometime later. I’m wondering how long until it becomes too much. Because it appears everyone is tired of it snd yet so little action also appears to be taken.
1984@lemmy.today 11 months ago
People don’t have power so I think that’s why no action is taken too. What are we gonna do, vote…
Showroom7561@lemmy.ca 11 months ago
That’s a hell of a lot of money to steal in just a few years. In under a decade, they’ll all be trillionaires, and we’ll all be trillions of dollars poorer.
nbafantest@lemmy.world 11 months ago
fosforus@sopuli.xyz 11 months ago
And that’s not how any of this works at all.
BlackNo1@lemmy.world 11 months ago
can we please just absolutely devour these “people”
Scew@lemmy.world 11 months ago
was surprised that there aren’t gps coordinates attached.
zbyte64@lemmy.blahaj.zone 11 months ago
You mean Davos?
UFODivebomb@programming.dev 11 months ago
Can’t wait to read some idiot’s argument on why Trump is the right guy to fix this lol
uriel238@lemmy.blahaj.zone 11 months ago
The problem (according to Das Kapital ) is that the owning class will fight back. Not all of them. Some realize that long-term capitalism requires keeping the working class happy (more or less) but well more than not. And as we learned with feudalism in the middle ages, it takes only one bad king to bring the ruin the works of ten of his predecessors. (It’s a running theme in A Song of Ice and Fire )
So these recommendations are on the assumption that our governments are not already captured. The point of government is to serve the public good and the US has been trying to go back to that for over a century (since the Great depression, which escalated the desire to try something else, all the while the Soviet Union was doing just that.)
Our plutocrats have more resources by which to keep hold of our current governments, even as industry pollutes the air and drives us toward extinction.
marx2k@lemmy.world 11 months ago
“Morbidly” doesn’t work in this context
my_hat_stinks@programming.dev 11 months ago
Why not?
morbid /môr′bĭd/ adjective
- Given to or characterized by unwholesome thoughts or feelings, especially of death or disease.
"read the account of the murder with a morbid interest." - Of, relating to, or caused by disease; pathological or diseased.
"morbid changes in tissues." - Psychologically unhealthy or unwholesome.
"a morbid fear of heights." - Not sound and healthful; induced by a diseased or abnormal condition; diseased; sickly.
"a morbid condition; a morbid constitution; a morbid state of the juices of a plant." - Of or pertaining to disease or diseased parts.
“morbid anatomy”
Other than the fifth definition here, these all seem reasonable to me.
RobertOwnageJunior@lemmy.world 11 months ago
The second one doesn’t really fit either I’d argue.
- Given to or characterized by unwholesome thoughts or feelings, especially of death or disease.
520@kbin.social 11 months ago
It is morbid for society. This is completely unsustainable.
Sterile_Technique@lemmy.world 11 months ago
Rivalarrival@lemmy.today 11 months ago
Wealth can be considered a disease. If you really want to get pissed off, Google “affluenza”
bitflag@lemmy.world 11 months ago
Ah the yearly Oxfam cherry picked data. For this one, they say “since 2020” but really this is “since Mars 2020 when the stock market was crashing and hitting incredible lows”, which helps inflate their click-baity figures.
nvermind@lemm.ee 11 months ago
Actually, Musk’s wealth went up in 2020. So did several other billionaires. The ultra wealthy don’t obey the same rules you and I do, and they’re still making billions when the world is shit.
bitflag@lemmy.world 11 months ago
Doesn’t change anything to Oxfam doing cherry picking.
jas0n@lemmy.world 11 months ago
Yeah, I feel bad for those billionaires, too. You know what, I think they deserve a tax break.
In totally unrelated news, can you believe those left wing communists want paid maternity and paternity leave. That’s going to cost $12 billion annually… have they not seen the national debt?!
bitflag@lemmy.world 11 months ago
Get off your soap box, I just pointed out that Oxfam numbers are manipulated.
Tangent5280@lemmy.world 11 months ago
Since March 2022? The start of the Financial Year Boundary month of march? That march? I wonder why they chose such a random month.
/s
AlteredStateBlob@kbin.social 11 months ago
You mean the two month stock market dip which has since not only recovered but the market following has heavily outperformed anything before 2020 and was fully abused by those in power who used their insider information on the COVID pandemic to trade just before the dip hit the markets? That stock market crash? I mean, I bet. Those 2 months are totally going to skew the numbers.
bitflag@lemmy.world 11 months ago
Those two months do skew the numbers. Why do you think they specifically picked March and not January as anybody else would?
You can defend your opinions without having to manipulate the numbers.
pupbiru@aussie.zone 11 months ago
so what you’re saying is that when the stock market is crashing and hitting incredible lows, us plebs lose money and the rich lose significant less? make a profit?
that just points to a different and related problem that still supports oxfams conclusion
if everyone lost money at the same rate, we’d all be worse off… the problem is the wealth gap got larger; not that everyone lost money
Rivalarrival@lemmy.today 11 months ago
Do you really want to get between the angry people with the guillotines and the object of their wrath?
nbafantest@lemmy.world 11 months ago
Remember, any time you see this headline, they’re cherrypicking the date to after the richest men lost 50% of their wealth in the Stock collapse immediately after covid/lockdowns hit.
Gloomy@mander.xyz 11 months ago
nbafantest@lemmy.world 11 months ago
You can even see the dip in Elon’s networth in 2020 in this chart lol If they had started 1 month earlier, Elons net worth would have only 3x instead they cherry picked a date after Elon’s networth had halved, so instead it 6x’ed.
fosforus@sopuli.xyz 11 months ago
Ok, so … Biden’s economic policies are worse than Trump’s were?
nbafantest@lemmy.world 11 months ago
Ok, so … Biden’s economic policies are worse than Trump’s were?
This is a cherry picked headline based on the stockmarket crashing immediately after covid/lockdowns hit. Its a good thing that Biden’s economy has fully recovered since then. There was no guarantee that we wouldn’t be in a depression after the lockdowns. The fact that the economy and stock market are back to normal after covid is not a bad thing, despite the scary sounding headline.
NaNABCV@lemmy.world 11 months ago
Thank goodness Biden is doing so much to combat this
Xer0@lemmy.ml 11 months ago
If you really believe in the words that you preach, Get off your screens and onto the streets. There will be no peaceful revolution, No war without blood. You can say I’m just a fool that stands for nothing, Well, to that, I say you’re a cunt.
boaratio@lemmy.world 11 months ago
“richest men” Hmmm.
Rivalarrival@lemmy.today 11 months ago
Universal healthcare now, paid for by the top 5 wealthiest people in the country. If they don’t want to pay it, they can spend until they are 6 or below.
Guillotines for anyone taking action against universal healthcare.